Sold: South Lakes Village Center

South Lakes Village Center has a new owner. The shopping center was recently purchased by Chevy Chase Land Co. for $62 million, The CoStar Group reports. The center was previously owned by a subsidiary for Cornerstone Real Estate Advisers.

There are no plans for redevelopment of the 110,000-square-foot village center, which was built in 1984 and is anchored by Safeway.

South Lakes currently has only one vacancy, an 888-square-foot space formerly occupied by Yogiberry frozen yogurt.

If only there was a way for the new owners to enhance the overall customer experience?
Oh yeah, please charge me for parking. That’s a no brainer. Your welcome.

Mike M

“There are no plans for redevelopment . . ”
“South Lakes currently has only one vacancy . . . ”

Oh? That’ll change when the rents rise sharply, the tenants start to bail, and the new owners says, “Waaah! We can’t get tenants, we need to go residential!”

Guest

As much as I want to disagree, I can see them trying it. Especially if a grocery goes in with station area development and South Lakes is bridged to north of the highway as planned.

It’s worth noting that the South Lakes Safeway is kept very busy on the edge of the four square mile residential wilderness between Reston and route 123.

Mike M

Reston Safeway is not as busy at it looks. They never have enough cashiers and they shut off their self serve registers in the evening. At least one of those is usually out of order anyway. The whole place stinks of Union. In fact, it seems like the employees are either Union or the cheapest labor they can get to offset Union costs.

Scott H

while there are no plans for redevelopment, there has always been the master plan to make it a true village center as envisioned by Robert Simon. Would not be surprised to see this idea re-emerge in the near term.

Greg

Next great idea?

Arielle in NoVA

It’s a bit tight on space to have a plaza added… unless they build out into the lake, which could be cool.

David Nassau

I hope they can invite another frozen yogurt or ice cream or smoothie place to fill that space. We need one of those!

Overrunhell

Look at the Master Plan. It will be redeveloped, and I suspect within the next year or so. Many attended the county’s Community meetings regarding the Village Center redevelopment efforts.

Why do you bother?

Interesting. What do you think the redeveloped center would look like (stores, etc.)?

Overrunhell

Mixed use, more density. They will go up. My concern is whether Thoreau Place will be included or not.

vdiv

The high-rises are coming…

Generic User

“In other news, Chevy Chase Land Co. has announced a new pay parking system that will go into effect Sept. 12 at South Lakes Village Center. Film at 11…..”

Rick Austen

Maybe, maybe, maybe . . . and I offer this with zero qualification or evidence other than the (commercially obvious) potential: Walmart.

It is precisely how EvilMart would backdoor the thing, and how they operate in North/South Carolina when muni’s fight a new construct.

Greg

Doubtful WM will come to Reston, but I hear strong rumors that Aldi or Lidl may be moving in — perhaps at or near Hunters Woods with its high concentration of section 8 housing,

And, methinks, it will not be long before Hunters Woods is sold and demolished.